Self-licensing trend boosts ClearView offering

ClearView's LaVista Licensee Solutions has had a boost to its books thanks to the increase in self-licensed financial advice practices seeking dealer services, such as back-office infrastructure and support.

Now NSW-based practice Macaplan Financial Planning Resources and Canberra-based Rightway Insurance Services have chosen LaVista to assist them in managing licence obligations.

LaVista chief executive Mike Pope points to the increased focus on professionalism and the breakdown of vertical integration as well as the brand damage institutionally-aligned groups have suffered from the Royal Commission as being the perfect storm.

That perfect storm has pushed many practices to obtain their own AFSL, which in turn has seen dealer services offerings like LaVista grow.

"Many of the institutionally-aligned practices we've spoken to have outgrown their dealer group and are actively investigating their options which is a significant change from a few years ago when they seemed more or less content to stay put," Pope said.

Macaplan, which is headed by Miguel Rodrigues and Paul Macfarlane, obtained its AFSL in mid-2016 and appointed LaVista in March this year.

Macaplan was attracted to LaVista by the group's specialist compliance services and the flexibility to cherry-pick the components they needed.

Macfarlane said: "We needed an experienced partner to help us manage our compliance function so I reached out to Mike who we had already known for a long time. We knew that Mike and his team could help us navigate our way around the complexities of licensing and compliance and we trusted his expertise."

LaVista will assist Macaplan in handling compliance and adviser training - including development, onboarding and induction.

LaVista also assists businesses with the AFSL application process.

Pope added: "Managing your own AFSL shouldn't mean less time with your clients. We are helping advisers manage day-to-day compliance, advice and monitoring, so they can focus on providing excellent service and advice to their clients."

Read more: AFSLClearViewLaVista Licensee SolutionsMike PopeMacaplan Financial Planning ResourcesPaul MacfarlaneMiguel RodriguesRightway Insurance ServicesRoyal Commission
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